Vanguard Group Inc. Grows Stake in Ferrari N.V. (RACE)

Vanguard Group Inc. grew its holdings in shares of Ferrari N.V. (NYSE:RACE) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,144,415 shares of the company’s stock after purchasing an additional 39,530 shares during the quarter. Vanguard Group Inc. owned approximately 1.66% of Ferrari N.V. worth $270,483,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Global Advisors LLC increased its position in shares of Ferrari N.V. by 0.6% during the 2nd quarter. Strategic Global Advisors LLC now owns 6,034 shares of the company’s stock valued at $519,000 after purchasing an additional 38 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Ferrari N.V. by 6.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,917 shares of the company’s stock valued at $165,000 after purchasing an additional 119 shares during the last quarter. Comerica Bank increased its position in shares of Ferrari N.V. by 1.3% during the 1st quarter. Comerica Bank now owns 10,857 shares of the company’s stock valued at $821,000 after purchasing an additional 144 shares during the last quarter. Wetherby Asset Management Inc. increased its position in shares of Ferrari N.V. by 3.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 5,762 shares of the company’s stock valued at $496,000 after purchasing an additional 187 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Ferrari N.V. by 10.1% during the 2nd quarter. US Bancorp DE now owns 3,093 shares of the company’s stock valued at $266,000 after purchasing an additional 283 shares during the last quarter. 29.78% of the stock is owned by hedge funds and other institutional investors.

Ferrari N.V. (NYSE RACE) opened at 116.52 on Thursday. The company’s 50 day moving average price is $112.79 and its 200-day moving average price is $94.66. The company has a market capitalization of $22.02 billion, a P/E ratio of 38.02 and a beta of 1.70. Ferrari N.V. has a 52 week low of $50.39 and a 52 week high of $118.10.

Ferrari N.V. (NYSE:RACE) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. The company had revenue of $1.01 billion during the quarter. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. Equities research analysts expect that Ferrari N.V. will post $3.18 earnings per share for the current year.

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Several equities research analysts have recently commented on the stock. Morgan Stanley lowered shares of Ferrari N.V. from an “overweight” rating to an “underweight” rating and set a $100.00 price target for the company. in a research report on Thursday, September 7th. Evercore ISI upped their price target on shares of Ferrari N.V. from $46.00 to $105.00 and gave the company an “in-line” rating in a research report on Friday, September 1st. UBS AG reaffirmed a “buy” rating and set a $125.00 price target (up previously from $100.00) on shares of Ferrari N.V. in a research report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Ferrari N.V. in a research report on Wednesday, September 13th. They set a “neutral” rating and a $131.00 price target for the company. Finally, Berenberg Bank reaffirmed a “buy” rating on shares of Ferrari N.V. in a research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Ferrari N.V. has a consensus rating of “Hold” and a consensus price target of $101.75.

Ferrari N.V. Profile

Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.

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Institutional Ownership by Quarter for Ferrari N.V. (NYSE:RACE)

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